Jubilant Ingrevia is set to acquire a 40% strategic stake in Zettaone Technologies India for Rs 189.2 crore, marking a major push by the company into electronics development and manufacturing services (EDMS).
The company said it has entered into a binding agreement for the acquisition. Once completed, Zettaone Technologies will become an associate company of Jubilant Ingrevia.
Co-founded by Harikrishnan, Sureshkumar, Prabu and Arunkumar, Zettaone Technologies operates an integrated electronics design and manufacturing platform serving the electronics and semiconductor industries. Its capabilities span R&D, design and prototyping, manufacturing, assembly and box build.
Shyam S Bhartia, Chairman, Jubilant Ingrevia Limited and Hari S Bhartia, Co-Chairman & Whole-Time Director, Jubilant Ingrevia Limited said, “The proposed investment is aligned with the Company's Pinnacle growth strategy and provides a strong platform for its play in Electronics Development and Manufacturing Services (EDMS) space. The transaction will enable the Company to deliver an integrated value proposition in electronics and semi-conductor space, leading to long-term and sustainable value creation”.
The acquisition will be completed in two tranches. The first tranche is expected to close by November 2026, while the second is expected to close by September 2027.
Deepak Jain, Chief Executive Officer and Managing Director, Jubilant Ingrevia Limited said, “We are continuously working towards advancing our strategic priorities and this acquisition is another milestone in our Pinnacle journey. We have already been expanding into high-precision semiconductor chemicals through our CDMO business and have made a great progress in last two years to establish our credibility with several global customers.
"The expertise in high-speed and high-power PCB design and manufacturing of Zettaone Technologies will further anchor our growing Electronics/Semiconductor business with an integrated value proposition to our customers.”
The deal builds on Jubilant Ingrevia's existing presence in high-precision semiconductor chemicals through its contract development and manufacturing organisation (CDMO) business, while adding Zettaone's expertise in high-speed and high-power PCB design and manufacturing.
Harikrishnan Gopal, CEO of Zettaone Technologies. said, “Over the years, our team has built lasting relationships through consistency, quality, and a commitment to solving complex engineering challenges. We are happy to be a part of the Jubilant Bhartia Group and this development will reinforce our position as a trusted technology partner for mission-critical electronics solutions in aerospace, defence, semi-conductor, auto, medical and industrial spaces.”
The acquisition is expected to deepen Jubilant Ingrevia's engagement across the electronics and semiconductor value chain, combining its CDMO and manufacturing capabilities with Zettaone's electronics engineering and manufacturing expertise.
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